Coti Launches $10M Rewards Program for v2 Token Rollout

Coit, an Ethereum-based confidentiality layer, has announced that it will be distributing Coti v2 tokens worth $10 million through an airdrop to holders of its native Coti (COTI) token. The Coti v2 protocol is specifically designed to securely transmit sensitive data over the blockchain across Web3 applications, with a focus on privacy. The company has revealed its community rewards initiative, which involves airdropping 40 million Coti v2 tokens to existing Coti holders, both native and ERC-20. The airdrop campaign will begin on March 25, but the distribution of the tokens will only start in the last quarter of 2024, following its token generation event.

The eligibility for airdrop rewards extends not only to existing Coti tokenholders, but also to all treasury participants. Coti has emphasized that this airdrop is an additional benefit on top of all annual percentage yield rewards for tokenholders. Users are required to have a deposit in the Treasury to participate, and those who made deposits before February 28, 2024, will receive an extra bonus as a gesture of appreciation from Coti for their early support. Currently, the total value locked in Coti’s treasury is approximately $98.7 million. The rewards given to each investor will depend on their level of involvement in the ecosystem.

Coti believes that the launch of Coti v2 is crucial in unlocking new use cases for the Web3 economy, particularly in terms of confidentiality. To further incentivize participation, the company plans to offer longer lock periods of 180, 270, and 360 days starting on March 25. This move is part of a trend that began in January 2024, where various protocols offered a cumulative $700 million in token airdrops over the course of just one week. Other prominent protocols, like AltLayer, Dymension, and Jupiter, also rewarded their users during this airdrop season.

Crypto users who are interested in participating in token airdrops are advised to conduct thorough research on the projects they consider investing in. It is important to be cautious of accounts impersonating reputable crypto projects and promising unrealistic returns on investment.